Can’t afford it

  By Mystic | July 5, 2012 - 11:34 |

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Written by: Mystic on July 5, 2012.
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  • Wilbick

    i dont know what came over George Monbiot with that peak-oil article. He normally seems a lot more diligent with his research before coming to such a conclusion. Strange.

    • http://overthepeak.com/wordpress/ Mystic

      I think a lot of the `green` crowd are a lot pissed off with the last few big meetings they’ve had.
      They are basically being kicked aside~!?

  • CSArichardo

    Wells Fargo … the big owner is Warren Buffet who rewards his boys well for making money !!  This guy is so smooth.  Remember his secreatry was guest at one of Obama’s state of the union.  Nice to say you believe in something you have paid off someone never to make happen !??

    http://www.nypost.com/p/news/national/secretary_of_state_stunt_vV7eqtaWkLZxEGYBjUxLQP

    But how much does his secreatry make ?  “You can–just barely–get a marginal tax rate of 35.8% if she is making almost exactly the taxable social security limit of $110,000. ”

    Update:  apparently, she makes $60K.  So I gather what Buffet is talking about is comparing her federal marginal tax rate, including both sides of the employer tax, to what must be his effective tax rate, since there is no marginal rate of 17.4%.  That comparison is beyond bizarre. 

    http://www.theatlantic.com/business/archive/2012/01/how-rich-is-warren-buffetts-secretary/252056/

    Lots of smoke and mirrors in the USA !?  Probably in Europe too.  Glad to see France upping the rates for the 1%…just enough to remind them of how licky they are !

  • augustine

    Well,  one of your first clues is the fact that the solar cell companys are making their product with fossil fuels ie coal to run their plant.  As Daniel moynihan has said, ” You are entitled to your own opinion but you are not entitled to your own facts.” Hmmm i think i babble.

  • axionication1

    Strange that shrinking housing inventory. Could it be that banks are holding on to the properties at book price fearing forced sales would reveal true price? This should drive prices up but I don’t believe buyers are around in substantial enough numbers.
    The banks are can kicking ( they are insentivised to do so).

    • http://overthepeak.com/wordpress/ Mystic

      Maybe a bit (a lot~?) of that going on; but the inventory is falling ….. so prices should stabilize.

      Shed-loads of inventory hitting the market in Oz~!

      • axionication1

        Should yes, but then what is stabilize when marginal increase is no different to a marginal inflation rate?

        Not much idea about oz housing. First hand info on NZ’s housing market is that house prices are climbing in Auckland ( small inventory) & climbing in Christchurch ( small inventory (due to the city largely being well fucked)). Buyers in Auckland are overwhelmingly Asian. Massive Assian interest in farms too.
        Smaller NZ towns look to me to be going to seed ( houses cheap with plenty clap board shit boxes available).

        • http://overthepeak.com/wordpress/ Mystic

           Yes, I can see it …… Only the dynamic towns will survive.  (same going on here)

          If they `outside money` stops flowing, there could be trouble below for NZ~!?

          • axionication1

            Yes, NZ is disastrously dependent on Asia. It is a time bomb.

  • Emmazedbend

    Nick you appear to have at least two shadow ‘Mystics’ located in Canada and USA:
    Location of the IP address
    156.34.246.7:
    Moncton in Canada.

    Location of the IP address67.142.235.68:in United States.

    • http://overthepeak.com/wordpress/ Mystic

       Thanks Emma,
      Yes it is old Stevo every time using different E-mails and proxy IP addresses.
      It is easy for me to block the E-mail and IP each time.
      He’ll grow up before I get bored blocking him.

      • Emmazedbend

        Okeydockey (I assumed he lived in UK). 

        • http://overthepeak.com/wordpress/ Mystic

           It’s technical ……. (and you’re only a girl~!), but you can pick up other IP addresses off th’internet to `go through` and it appears you are somewhere you’re not.

  • SeanTheLight

    I am curious regarding the quality of the shadow inventory vs the on-the-market inventory. Are investors holding onto desirable properties in nicer neighborhood (thereby keeping the local price up) while trying to offload the property they hold in less desirable neighborhoods (letting values decrease in those “crappy” areas more)~? Will there be a stratification bubble and burst~?